Good news on the job front: The service sector expanded in September. This is encouraging in an economic climate in which jobs have been lost. The expansion of the service sector is good news for those on the job hunt, since it indicates that there are some companies ready to hire. The index measuring non-manufacturing jobs moved to 50.9 in September, an improvement over the 48.4 August number.
The sector is considered to be expanding when the index reaches 50. The fact that the index has moved beyond 50 is boosting some morale. This is the second month of expansion, so …read more

Those who missed out and did not refinance their mortgage earlier this year when mortgage rates were at longtime lows may soon have another chance. The average 30-year-fixed rate mortgage stands at 5.2 percent, down from 5.32 percent last week, compared to an average of 6.37 percent just a year ago.
 
The main cause behind the falling mortgage rates seems to be the struggling job market, with skyrocketing unemployment numbers creating market concerns. Unemployment is at 9.5 percent, the highest rate since 1983, and 467,000 jobs were shed across the country in June alone.
 
People are already taking advantage of the situation. …read more

Finance world layoffs.